Greek tanker operator Kyklades Maritime puts wage access in the hands of its seafarers with ShipMoney partnership

Greece's Kyklades Maritime Corporation, a prominent independent tanker owner and operator based in Piraeus, has entered into a partnership with ShipMoney, a global maritime payments provider. This collaboration will introduce digital crew payment solutions to 18 of Kyklades Maritime's vessels, benefiting a multinational crew of around 500 seafarers from Greece, the Philippines, and the Balkans.

The new system replaces a manual, multi-party coordination process for wage advances and payouts, providing crew members with faster and more direct access to their earnings while at sea. Captain Petros Komitopoulos of Kyklades Maritime emphasized the company's commitment to seafarer well-being, stating that the partnership with ShipMoney grants crew greater flexibility and direct access to earnings, improving their overall experience.

Stuart Ostrow, President of ShipMoney, highlighted the company's admiration for Kyklades Maritime's serious standards and the positive impact on the 500 seafarers involved. This partnership aligns with the growing trend among Greek shipowners towards digital crew payment infrastructure, as the industry transitions away from cash-based systems that previously posed challenges for seafarers dealing with multiple currencies and banking environments.

Kyklades Maritime, a leading independent tanker owner and operator, maintains a modern fleet of crude oil tankers trading globally, prioritizing safety, operational excellence, and seafarer welfare through continuous investment in its people, fleet, and technology. ShipMoney, an industry-leading provider of digital payment solutions for the maritime sector, offers a secure Visa debit card, e-wallet, and mobile app to enable seafarers to receive their wages digitally anytime, anywhere, while streamlining payroll distribution and eliminating beneficiary and cash-management challenges.